Sarah Geegan

Final Financial Model E-newsletter for Fall 2013 Semester

Published: Dec 19, 2013

LEXINGTON, Ky. (Dec. 19, 2013) In a commitment to keep the University of Kentucky community informed and engaged in the process of transitioning to a new financial model, UK Provost Christine Riordan and Executive Vice President for Financial Affairs Eric Monday issued the latest newsletter with updates on the financial model.

 

The e-newsletter was distributed Thursday, Dec. 19.  Following is the full message:

 
 
Dear Colleagues, 
 
In our last communication of the semester about the new financial model, we want to 
discuss how another major pool of resources will be more transparently handled -- the 
tuition dollars we receive from families and students. 
 
UK this year will receive about $345 million of tuition revenue. Under the values-based 
financial model, every college will be given credit for teaching students. 
 
For the most part, except in special cases in which this formula is altered, 75 percent of 
tuition dollars will go to the college of the faculty member where classes are taught 
regardless of a student’s major. And 25 percent will go to the college where a student is 
majoring. In cases of double majors, this portion of the tuition is shared if multiple 
colleges are involved. 
 
It's a transparent way of allocating the flow of tuition dollars throughout the university to 
support the important work faculty do in educating students. 
 
In our current incremental model, tuition doesn’t flow directly to the colleges where the 
revenue is generated. Instead, the university allocates funds to colleges based upon 
defined needs or areas where growth patterns indicate additional resources are 
necessary. Without a direct formula allocation, it is more difficult for colleges to 
determine where to invest revenue in a strategic fashion to create an innovative learning 
environment to educate and graduate students in the most effective way possible. The 
new model allows colleges to see how the funds are flowing and invest in important 
areas as they continue to focus on quality and excellence. 
 
Next semester, we will continue with regular communication about this important tool for 
our institution. As always, the goal is to frequently and transparently continue the 
dialogue over the next year about how the model will help us maximize the work we do 
together. At the same time, as we continue that dialogue, we will be listening for ways 
we can make improvements to the model. Thanks for the great feedback so far. 
 
Thanks and have a happy holiday. 
 
 
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December
 
1
Resumes and Cover Letters
Circle of Love Gift Return
Mon
2
UK Guitar Studio
Circle of Love Gift Return
Tue
3
Networking and Job Search
Internship Info Session
LNFS Presents: Wayne's World
Study Sounds: Classical Concert
Wed
4
LNFS Presents: Frozen
Ballet Music of Tchaikovsky
Circle of Love Gift Pick-Up
Live Screening of Orion Spacecraft Re-entry
Massage on the Go
Thu
5
LNFS Presents: Winter's Bone
LNFS Presents: Gremlins
Open Studio
Circle of Love Gift Pick-Up
Fri
6
Snow Skiing @ Perfect North Slopes
Sat
7
Free Holiday Shopping Shuttle to Fayette Mall
Sun
8
Undergraduate Research Information Session "How to Find a Faculty Mentor"
Mon
9
Job Club - Identifying Your Skills
Paws for Stress Relief
Tue
10
 
Wed
11
 
Thu
12
Last Day of Classes
Fri
13
 
Sat
14
Free Holiday Shopping Shuttle to Fayette Mall
Finals Treats
Sun
15
Final Exams
Crunch Brunch
Mon
16
Final Exams
Jazzy Holiday Concert
Tue
17
Final Exams
Caregiver Support Group
Wed
18
Final Exams
Thu
19
Final Exams
End of 2014 Fall Semester
Fri
20
 
Sat
21
 
Sun
22
 
Mon
23
 
Tue
24
 
Wed
25
 
Thu
26
 
Fri
27
 
Sat
28
 
Sun
29
 
Mon
30
 
Tue
31
 
Wed
 
 
 
Dec 19
End of 2014 Fall Semester 12/19/2014

Fri, 12/19/2014

Wed, 01/14/2015

Fri, 01/16/2015

Wed, 01/21/2015

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